According to a report by Golden Ten, analysts from Shengbao Bank stated in a report that Bitcoin rose to a three week high as macroeconomic concerns eased and continued inflows of ETFs boosted cryptocurrency sentiment. They said that the trade agreement between the United States and Vietnam has raised market optimism, with tariffs lower than people are concerned about. The weak ADP private employment report released on Wednesday increased bets on a Fed rate cut, further supporting risk appetite. With the rise of BlackRock's Bitcoin ETF and the new iShares Ethereum ETF, institutional demand for cryptocurrencies remains strong.